Values First Advisors Inc. Buys New Stake in Snowflake Inc. (NYSE:SNOW)

Values First Advisors Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,305 shares of the company's stock, valued at approximately $338,000.

A number of other hedge funds have also recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new position in Snowflake in the 1st quarter worth $26,000. CVA Family Office LLC boosted its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the period. West Paces Advisors Inc. bought a new position in Snowflake in the 4th quarter worth $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake in the 4th quarter worth $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake in the 4th quarter worth $31,000. Institutional investors own 65.10% of the company's stock.

Snowflake Trading Down 1.0%

SNOW stock traded down $2.14 during mid-day trading on Friday, reaching $212.28. The company had a trading volume of 1,057,077 shares, compared to its average volume of 5,276,390. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market capitalization of $70.87 billion, a PE ratio of -50.43 and a beta of 1.22. The firm has a 50 day moving average of $202.68 and a 200 day moving average of $176.69. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $226.60.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. On average, equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark Garrett sold 67,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the transaction, the director directly owned 7,428 shares in the company, valued at approximately $1,478,023.44. This trade represents a 90.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the transaction, the chief financial officer owned 292,610 shares in the company, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,718,258 shares of company stock worth $589,762,906. Corporate insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNOW. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Stifel Nicolaus boosted their price target on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Cowen reiterated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. JMP Securities reiterated a "market outperform" rating and issued a $245.00 price target on shares of Snowflake in a research note on Wednesday, June 4th. Finally, Hsbc Global Res cut shares of Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.36.

Snowflake Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.